We study spectral properties of transfer operators for diffeomorphisms T : X → X on a Riemannian manifold X: Suppose that Ω is an isolated hyperbolic subset for T , with a compact isolating neighborhood V ⊂ X. We first introduce Banach spaces of distributions supported on V , which are anisotropic versions of the usual space of C p functions C p (V ) and of the generalized Sobolev spaces W p,t (V ), respectively. Then we show that the transfer operators associated to T and a smooth weight g extend boundedly to these spaces, and we give bounds on the essential spectral radii of such extensions in terms of hyperbolicity exponents. * (T, V ), for 1 < t < ∞, of distributions supported on V , such that, for any C r−1 function g : X → C supported on V ,(1) (Hölder spaces) L T,g extends boundedly to L T,g : C p,q * (T, V ) and r ess (L T,g | C p,q * (T,V ) ) ≤ R p,q,∞ (T, g, Ω). (2) (Sobolev spaces) L T,g extends boundedly to L T,g : W p,q,t *